Credit card company Visa has announced that it has been informed of a potential data security breach at a European payment processor and that it has mounted an investigation into the matter.

The company has not revealed which processor has been compromised, but has shared that it is serves a retailer chain with shops in a number of eastern European markets, reports IDG.

The news comes in the wake of a revelation that the Romanian CEC Bank has cancelled and re-issued some 17,000 payment cards following the incident.

At the time, the bank has stated that their actions were not the results of a direct attack on its systems or on its customers in particular.

Their claim seems to have been true as the Romanian Association of Banks confirmed that other banks have been notified of the incident and advised to be on the lookout for signs of fraudulent access to their customers' accounts, and the banks have passed on the warning to its clients.